Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.1897%/8h= −207.7% APRpaid last 24h −0.526%

Price spread now: Injective against HTX−0.187%7-day average −0.180% · you buy dearer than you sell

Net, funding: paid 7d − costs−$195as in the Funding arb table

Net, price: spread back to 7d avg − costs−$129as in the Price arb table

costs, in and out, $10k−$1281.284% of the position

Long on HTX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.662%−$66 on $10k

Price spread, last 4 days (all we have)+0.386%+$39 · spread now −0.187%, 7d avg −0.180%

Together, before fees−0.276%−$28 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.180%, so right now this pair is about funding alone: −$57 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.662% in total (about -34.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX TRUMP-USDT	2.1350	0.0100	pay 0.0050% / 4h	24m 56s	$480K	$2.4M	50x
Short	Injective TRUMP/USDC PERP	2.1310	−0.1797	pay 0.0225% / 1h	24m 56s	$12K	$157K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against HTX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee HTXbpFee InjectivebpOrdersPrice spread, now −0.187%Rate

Funding earned: −$398.3
Price spread: −0.187% → −0.180%: −$0.76
Slippage, 4 orders: −$116.39
Fee HTX: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$527.47
Costs to cover: 1.284%
Break-even: never at this rate

Slippage from HTX: live order book, 4 min ago; Injective: live order book, 64 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy HTX live order book, 4 min ago	7.00 bp	15.2 bp −$15	81.9 bp −$819	doesn't fit	doesn't fit
Sell Injective live order book, 64 min ago	39.78 bp	39.8 bp −$40	doesn't fit	doesn't fit	doesn't fit

TRUMP on 31 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective TRUMP/USDC PERPshort	−0.1797%	1h	2.1310	−0.187%	$12K	$157K	12x
SoDEX TRUMP-USD	−0.0351%	1h	2.1335	−0.070%	$77	$6K	5x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1351	+0.004%	$5	—	10x	as long as short
Lighter TRUMP	−0.0232%	1h	2.1329	−0.098%	$933K	$1.0M	10x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0218%	1h	2.1341	−0.042%	$402K	$81K	10x	as long as short
Variational Omni TRUMP	−0.0200%	4h	2.1341	−0.042%	$659K	$423K	—	as long as short
OKX TRUMP-USDT-SWAP	−0.0193%	4h	2.1330	−0.094%	$26.5M	$183.1M	50x	as long as short
Extended TRUMP-USD	−0.0184%	1h	2.1329	−0.097%	$76K	$492K	25x	as long as short
Binance TRUMPUSDT	−0.0182%	4h	2.1340	−0.047%	$60.3M	$250.6M	75x	as long as short
Bybit TRUMPUSDT	−0.0153%	4h	2.1330	−0.094%	$30.4M	$52.6M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TRUMP_USDT	−0.0106%	4h	2.1340	−0.047%	$7.6M	$53.3M	75x	as long as short
Paradex TRUMP-USD-PERP	−0.0106%	8h	2.1348	−0.011%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	−0.0089%	4h	2.1403	+0.249%	$104K	$252K	20x	as long as short
Orderly PERP_TRUMP_USDC	−0.0062%	4h	2.1340	−0.047%	$5K	$273K	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1358	+0.037%	$27K	$501	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1368	+0.082%	$40K	—	150x	as long as short
KuCoin TRUMPUSDTM	+0.0026%	4h	2.1340	−0.047%	$4.1M	$10.9M	50x	as long as short
Aevo TRUMP-PERP	+0.0040%	1h	2.1324	−0.123%	$18K	—	3x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0056%	1h	2.1330	−0.094%	$167K	$478K	50x	as long as short
BloFin TRUMP-USDT	+0.0058%	4h	2.1350	0.000%	$4.2M	$684K	75x	as long as short
Bitget TRUMPUSDT	+0.0092%	4h	2.1340	−0.047%	$15.2M	$27.1M	75x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1355	+0.023%	$13.5M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1353	+0.013%	$401K	$778K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1363	+0.061%	$184K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1340	−0.047%	$397K	$148K	125x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1396	+0.215%	$174K	$4.4M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1370	+0.094%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDTlong	+0.0100%	4h	2.1350	long leg	$480K	$2.4M	50x
GMX TRUMP/USD [ETH-USDC]	L +0.0136% / S −0.0098%	1h	2.1370	+0.092%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0259%	1h	2.1377	+0.126%	$380K	$418K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0602%	1h	2.1365	+0.069%	$1.3M	$2.3M	50x	as long as short